Friday, May 9, 2025

Energy Fuels Records Net Income In 2021 Thanks To Uranium Asset Sale

Energy Fuels Inc. (TSX: EFR) released on Tuesday its 2021 financial results, which saw the company post US$3.2 million in revenue. This is an increase from 2020’s revenue of US$1.7 million.

The increase is mainly attributable to the revenue contribution by rare earth concentrates which the company commenced in 2021. RRE contributed US$1.4 million while alternate feed materials processing revenue added US$1.7 million. In 2020, all revenue was derived from alternate feed materials processing.

But the firm incurred costs related to sales and operating expenses amounting to US$38.6 million, the firm ended with a US$35.4 million operating loss for the quarter. This is lower than last year’s operating loss of US$24.6 million.

But save for a US$35.7 million gain on disposal when the firm sold its non-core conventional uranium projects located in Utah and Colorado to Consolidated Uranium in October 2021, the firm was able to end the year with a net income of US$1.4 million. This is an increase from a net loss of US$27.9 million last year.

The company burned operating cash flow for the year amounting to US$29.3 million but also generated cash from the issuance of common shares amounting to US$106.2 million. This led the firm to end the year with US$132.8 million in cash, cash equivalents, and restricted cash, putting current assets at US$149.3 million. Meanwhile, current liabilities came in at US$6.1 million.

Energy Fuels Inc. last traded at $10.58 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Greenland Parliament Votes to Block Giant Rare Earth Project

In a remarkable vote which will hamstring economic progress in Greenland for some time, that...

Saturday, November 13, 2021, 09:00:00 AM

US Uranium Production Hits All Time Low, EIA Refuses To Release Production Figures

It appears that the United States is headed towards a crisis within its uranium market....

Thursday, August 13, 2020, 11:11:33 AM

Uranium Pricing Has Declined About 25%, Could Now Be Poised For An Upturn

Spot uranium prices have declined about 25% over the last three month to around US$48...

Sunday, May 29, 2022, 01:10:00 PM

Uranium Energy Corp, enCore Energy Awarded Supply Contracts For Strategic Uranium Reserve

The US National Nuclear Security Administration (NNSA) has awarded the final two contracts in relation...

Tuesday, December 20, 2022, 07:42:52 AM

China Rare Earth Exports Fall Dramatically in 2020, Positively Impacting Energy Fuels Inc

Last week, China announced that it exported only 35,448 tonnes of rare earth materials, down...

Saturday, January 23, 2021, 01:24:00 PM